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Question

The cost of car, purchased 2 years ago, depreciates at the rate of 20% every year. If its present worth is ₹ 315600, find its purchase price.


A

493,125

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B

493,175

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C

493,525

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D

496,725

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Solution

The correct option is A

493,125


Here, V = present value = ₹ 315,600, n = 2 years, r = 20%,

Let, V0 = Purchase price

Using V=V0(1r100)n,
315,600=V0(120100)2or, 315,600=V0(80100)2=V0(1625)or, V0=315,600×2516=493,125


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